Description
Whether you're looking to owner occupy while your tenants help pay the mortgage or expand your investment portfolio, this versatile multi-unit property is one you won't want to miss. Offering over 4,500 square feet of living space, the property features one spacious 4-bedroom unit, one 3-bedroom unit, and one 1-bedroom unit, providing excellent income potential. Live in one unit and let the rental income offset much of your mortgage, or lease all three units as a strong investment opportunity. The property has seen several major updates over the past few years and is situated on a quiet road on a rare double lot. A detached two-car garage offers additional rental or storage income potential, while the unfinished attic presents an opportunity for future expansion. The current rents are below market value, offering room to increase income over time. For investors looking to maximize the property's potential, there may also be an opportunity to reconfigure the layout into four 2-bedroom units and one 1-bedroom unit, subject to municipal approval and any required permits. Properties offering this combination of size, flexibility, income potential, and future upside are hard to find. Schedule your private showing today!
Details
| MLS # | 1672049 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1910 |
| Days On Site | 70 |
| Listing Provided By | Real Broker | Corey Lee |
Features
| Bath(s) | 3 Total |
|---|---|
| SQ Feet | 4,684 |
| Garage | 2 |
| Basement | Y |
| Story(s) | 2 |
| Units | 3 |
| Zoning | Res Intown |
| Acreage | 0.23 |
| Golf Course | Yes |
Interior
| Interior Features | 1st Floor Bedroom, Attic, Bathtub, Pantry, Storage |
|---|---|
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
| Cooling | None |
| Laundry Features | Washer Hookup |
| Amenities Co Amenities | 1st Floor Bedroom, Attic, Bathtub, Washer Hookup, Pantry, Storage |
Exterior
| Roof | Metal, Shingle |
|---|---|
| Foundation Details | Granite, Poured Concrete |
| Lot Features | Intown, Near Golf Course, Near Shopping, Neighborhood, Level, Open Lot, Sidewalks |
| Construction Materials | Wood Frame, Clapboard |
| Patio And Porch Features | Glassed-in Porch, Porch |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Garage Yes / No | Yes |
| Parking Features | Common, Paved, 5 - 10 Spaces, On Site, Garage Door Opener, Detached |
Utilities
| Sewer | Public Sewer |
|---|---|
| Electric | Circuit Breakers |
Taxes
| Tax Annual Amount | 5590 |
|---|---|
| Tax Book Number | 1402 |
| Tax Year | 2025 |
| Tax Lot | 147 |
| Tax Map Number | 021 |
Area Information
| State | ME |
|---|---|
| County | Somerset |
| City | Madison |
| Zip Code | 04950 |
| Area | Somerset |
| School District | RSU 59/MSAD 59 |
| Listing VS Median (in 04950) | |
Price: $265,000 low | high Med: $277,000 sqft: 4,684 low | high Med: 2,959 $ / sqft: $57 low | high Med: $145 On site: 70 low | high Med: 368.5 | |
Market Activity 04950
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Learn More About This Property
| State | ME |
|---|---|
| County | Somerset |
| City | Madison |
| Zip Code | 04950 |
| Area | Somerset |
| School District | RSU 59/MSAD 59 |
| Listing VS Median (in 04950) | |
Price: $265,000 low | high Med: $277,000 sqft: 4,684 low | high Med: 2,959 $ / sqft: $57 low | high Med: $145 On site: 70 low | high Med: 368.5 | |